Gabelli Initiates Coverage On PANL With Buy Rating

Gabelli has issued a report initiating coverage of Universal Display PANL with a Buy Rating. According to Gabelli, "The increased demand for higher resolution displays, larger display sizes, and lower energy consumption is driving adoption of active matrix OLED (AMOLED) displays, which should replace LCD displays over the next several years." PANL closed yesterday at $52.36 a share.